USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CHF and closed at 0.9025. The Franc received support after on official data revealed that the Swiss industrial production climbed 0.7% in the third quarter, reversing the negative trend seen in the second quarter. In the previous quarter, industrial production witnessed a 1.1% fall.
In the Asian session, at GMT0400, the pair is trading at 0.9010, with the USD trading 0.17% lower from yesterday’s close.
The pair is expected to find support at 0.8983, and a fall through could take it to the next support level of 0.8957. The pair is expected to find its first resistance at 0.9057, and a rise through could take it to the next resistance level of 0.9105.
With a relatively light economic calendar today, news flowing across the globe would determine the trading trend for today. Investors would keep a tab on the domestic consumer price inflation report which would release tomorrow for further direction to risk appetite.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
